Tips And Tricks For Keeping Your Books Organized

Let’s be honest, keeping your books organized is hard! When running an entire business, keeping on top of your bookkeeping seems impossible. Keeping your books all neat and organized is the last thing on your mind. Even so, you need to keep it organized.

So, what can you do about it? Well, here are some tips and tricks that just might be the solution to helping you to keep your books organized.

Keep Detailed Records

Keeping detailed records might seem like the last thing you need to help with organization. Why would you need longer records to deal with? Without detailed records, things get messy. You’ll find yourself unsure of where this expense came from, why you lost some money on that day, etc. 

“Organizing and keeping accounting records like business invoices, receipts, and expenses can make or break your business’s books. If you fail to keep accurate records, the financial condition of your company can suffer.” - Patriot

Keep detailed records of everything. It actually makes things more organized when you know where everything came from, plus you’ll be thanking yourself for those details when tax season rolls around.

Have Separate Bank Accounts

Sometimes, business owners use the same bank account for work and personal expenses. In the end, this makes your bookkeeping far messier than it needs to be. To stay organized, take the time to open a separate bank account for business expenses. It’s totally worth it. 

“When you commingle finances, you risk generating tax and liability issues for both you and your business. [...] Separating your personal and business bank account also means you’ll be far less likely to attract unwanted attention in the form of tax audits.” - Enkel 

Give Online Bookkeeping a Try

Piles and piles of loose paper are impossible to keep track of and even more so to keep organized. Instead, why not give online bookkeeping a try?

“An online bookkeeping service is going to keep all your finances safe, well organized, and easy for you to access whenever you want to on the cloud. It’s online, so you can access it anytime, anywhere! This is especially valuable when you have to travel for work.” - Signal Operations

Get help with your bookkeeping. Online bookkeeping services are a great investment when you need them. Running a small business is tough. The best thing you can do for your business is to know when you need help.

Review Your Books Often

The last tip on this list is to review your books often. It might seem like a waste of time at first, but it won’t be when it comes time for taxes and everything is in order. You may think things are accurate and organized, but if you don’t ensure that they are often, small errors can quickly become huge disasters if left unnoticed. 

“Successful businesses have a clear understanding of their monetary picture and constantly plan. It’s important you examine your finances frequently and avoid organizing last minute.” - Out of the Box Technology

Keeping your books organized can seem like a lot of work, but it’s far less work than having to deal with it all after they’ve become a huge mess. Spending the time to organize them is so worth it and, hopefully, these tips will help you out!

Do you have any tricks you use to keep your books organized? Let us know in the comments below!

If you need some more help figuring this all out or need any other bookkeeping/accounting help, book a discovery call.